Consumption and portfolio turnpike theor
β
Xing Jin
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Article
π
1998
π
Elsevier Science
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English
β 182 KB
This paper investigates consumption and portfolio turnpike theorems in a continuous-time model. When the inverse functions of the derivative of utility functions for consumption and investment belong to a special subclass of regularly varying functions, it is shown that optimum portfolio, ΓΏnal wealt